Montreal CMA January 2026 real estate market: Snapshot

Montreal CMA January 2026 real estate market is unfolding as a data-driven story of slowing sales but rising prices, driven by tight supply and affordability challenges. The Quebec Professional Association of Real Estate Brokers (QPAREB) released January 2026 Centris residential statistics for the Montreal Census Metropolitan Area, showing a sizable drop in transactions from the previous year and a continued price upswing across all major property types. For readers of the Montréal Times, that means buyers, sellers, policymakers, and investors are navigating a market where scarcity keeps price momentum intact even as activity cools. The headline is clear: sales moved lower in January 2026, but price levels held firm or climbed in most segments, signaling a market that remains competitive for sellers while testing the budgets of prospective buyers. These developments are part of a broader pattern seen in early 2026 across large Quebec markets, and they underscore the importance of timing, inventory access, and financing conditions in shaping monthly outcomes. This January 2026 snapshot of the Montreal CMA real estate market is essential for understanding the balance of power between buyers and sellers as we move into the spring selling season. The data and analysis that follow reflect the latest verified statistics from APCIQ and Centris, and they aim to equip readers with actionable context for decision-making in a rapidly evolving environment. The Montreal CMA January 2026 real estate market is not just a local curiosity; it signals how supply constraints and price dynamics are interacting in one of Canada's largest urban regions. (apciq.ca)

What Happened

Key Transaction Totals

In January 2026, the Montreal CMA recorded 2,364 residential transactions, marking a 15 percent year-over-year decline from January 2025. This is a continuation of a trend toward slower activity after a bustling post-pandemic period, and it underscores how affordability pressures, inventory scarcity, and evolving mortgage conditions are shaping monthly results. The share of transactions by property type shows notable variation: plexes posted 263 sales, up 7 percent, while single-family homes dropped to 1,152 sales (down 17 percent) and condominiums fell to 944 sales (down 18 percent). These figures reflect a market where certain multi-unit investment properties are more resilient than single-family and condo segments in the face of tightening budgets. The detailed distribution by geographic market also highlights shifts, with Vaudreuil-Soulanges showing a modest uptick in sales (+3 percent) while other major sectors experienced double-digit declines, ranging from 13 percent on the South Shore to 28 percent in Laval. The January 2026 activity thus reveals both pockets of resilience and broad-based cooling. (apciq.ca)

Price Trends by Property Type

Prices continued to rise across all three major property categories despite the sales slowdown. The median price for single-family homes reached $615,000 in January 2026, representing a 4 percent year-over-year increase and a small month-over-month dip of about 1.6 percent. Condominiums posted a median price of $428,000, up 2 percent year over year and modestly higher month over month. Plexes climbed the most, with a median price of $841,800, up 8 percent year over year and again rising modestly from December. The pattern—rising medians even as total transactions fall—points to persistent demand among buyers who can access limited inventory at higher price tiers, particularly for plexes where investment returns remain compelling in a tight market. The broader price trajectory aligns with the larger Montreal real estate narrative of 2025–2026, in which limited supply continues to buoy values even as market velocity softens. (apciq.ca)

Inventory, Supply and Geography

On the supply side, January 2026 saw a mixed signal: single-family homes and plexes listed for sale remained relatively stable, while condominiums for sale surged by about 18 percent, pushing overall supply slightly above its historical ten-year average. New listings reached 6,550 in January 2026, up about 7.5 percent year over year, and active listings ended the month at 16,798, an increase of roughly 8.6 percent year over year. The combination of higher listings in the condo sector and constrained demand in other segments contributed to a nuanced market texture, where buyers face competition in certain niches but have more options overall than a year earlier. The data also highlights geographic disparities: while Vaudreuil-Soulanges stood out with a positive sales movement, other subregions posted more pronounced declines, underscoring the importance of local market context for buyers and sellers alike. The two numbers—inventory growth in some segments and ongoing price resilience—help explain why the market remains tilted toward sellers in several major segments, despite a general slowdown in activity. (apciq.ca)

Time on Market and Market Sentiment

Days on market trended lower across the board as prices climbed and demand persisted in several segments. The average days on market were approximately 50 days for single-family homes, 66 days for plexes, and 67 days for condominiums. While these figures reflect a robust pace relative to the rough mid-year 2025 cadence, they also indicate that the market has dialed back from the frenetic conditions seen earlier in the cycle. This tightening of time-to-sell dynamics is consistent with a market where buyers are more selective and mortgage affordability continues to influence decision timelines. The overall market sentiment remains data-driven and cautious: participants are balancing the need for timely purchases with the reality of rising price benchmarks and ongoing supply constraints. (apciq.ca)

Market Conditions and Signals

From a broader perspective, the Montreal CMA remained in a seller-leaning posture by traditional inventory metrics, with a relatively low months-of-supply figure relative to broader market definitions. Specifically, the market continued to demonstrate a seller-influenced dynamic, aided by property scarcity and price momentum across key segments. The persistence of price gains—even as sales slow—reflects a market that remains price-sensitive but not price-abandoning. Analysts highlight that while the short-term trajectory may hinge on macro factors like interest rates and inflation, the structural tightness in supply, particularly for single-family homes, will keep the market anchored to higher price levels. These patterns align with the January 2026 Centris data published by QPAREB, which also notes the continued influence of supply constraints on pricing and selling times. (apciq.ca)

Why It Matters

Market Balance and Buyer Power

Photo by Matt Pictures on Unsplash

The January 2026 snapshot shows a nuanced balance between buyer and seller dynamics in the Montreal CMA real estate market. While the total number of transactions fell year over year, the elevated median prices across all three property categories indicate that buyers are continuing to compete for scarce assets, especially for plexes. The sales-to-new listings ratio, a commonly cited indicator of market balance, sits in a range that suggests sellers retain an advantage in several segments, even as the pace of sales has slowed. This combination—fewer deals but higher prices—creates a careful buyer environment: buyers who do find suitable properties must weigh higher price points and potentially tighter financing constraints against the likelihood of continued price appreciation. The implications for buyers include a need for precise budgeting, prioritized property criteria, and careful vetting of financing options, particularly in multi-unit and plex markets where investment demand remains robust. For sellers, the picture remains favorable in many segments, but pricing strategies must reflect the market’s evolving pace, with attention to days-on-market trends and geographic nuances. The January 2026 APCIQ release and the Centris data provide the data backbone for this interpretation. (apciq.ca)

Affordability Pressures and Lending Environment

Affordability continues to be a central theme in the Montreal CMA January 2026 real estate market narrative. While prices rose, the underlying drivers—supply scarcity and evolving mortgage conditions—shape how much of the price gains buyers can realistically absorb. Market commentary from APCIQ’s leadership notes that the slowdown in sales is tied to affordability constraints and a still-limited property supply, even as prices climb in segments with the strongest demand. The broader context includes a stabilization narrative around interest rates, with Bank of Canada signals cited as contributing to more predictable buying conditions for the near term. This environment suggests that, while the near-term trajectory may see continued price resilience, buyers and sellers should prepare for variability contingent on financing costs and macroeconomic shifts. The official APCIQ quotes and the Bank of Canada context highlighted in APCIQ’s February 2026 release inform this interpretation. (apciq.ca)

Regional Variation and Investment Implications

Geography within the Montreal CMA matters for strategy. Vaudreuil-Soulanges’ relative strength in January 2026 contrasts with slower conditions on the Island of Montreal and other submarkets, where declines were more pronounced. For real estate investors, this means targeted diligence is essential: submarkets with rising sales or stable demand may offer better entry points or more reliable rental fundamentals, while others may require longer time horizons or price concessions. The data also underscored that condo supply surged while single-family and plex listings remained tighter, which implies different pricing dynamics and capital allocation decisions across property types. As policymakers and lenders monitor affordability and market stability, the January 2026 data provide a clear, granular view of where potential vulnerabilities and opportunities lie within the CMA. The APCIQ release’s geographic highlights and the associated commentary from market analysts illuminate these trends. (apciq.ca)

The Bigger Picture for 2026 and Beyond

The January 2026 data set is a crucial puzzle piece for understanding how the Montreal CMA real estate market is adjusting to a post-2025 affordability environment. Analysts point to a pattern of price strength amid constrained supply, with plexes showing the most pronounced price gains and inventory dynamics continuing to shape the market’s tempo. The broader context includes a national and provincial backdrop of evolving housing policy, financing availability, and demographic shifts that influence demand. In Montreal, where migration, employment, and urban living preferences interact with price points that remain elevated relative to many peers, the January 2026 snapshot reinforces the importance of precise market intelligence for decision-making. Market observers will watch how spring activity unfolds, with particular attention to whether the stabilization of rates and continued supply constraints translate into further price stabilization, continued price growth, or a rebalancing in certain segments. (apciq.ca)

Regional Policy and Public Interest Considerations

From a public-interest perspective, the January 2026 Montreal CMA real estate market data can inform housing policy discussions around affordability, zoning, and development incentives. When supply remains tight and prices trend upward, policymakers may consider measures to broaden supply (e.g., streamlining approvals for new rental housing, encouraging missing middle housing types, or supporting affordable homeownership programs) while balancing concerns about market overheating. The APCIQ data, alongside independent analyses like WOWA’s market overview, provide a factual basis for evaluating policy levers and their potential impact on the CMA’s housing market trajectory. Readers should monitor official releases from APCIQ, Centris, and local housing authorities for updates on policy changes and their market implications. (apciq.ca)

What’s Next

Near-Term Outlook

Looking ahead, the near-term outlook for the Montreal CMA January 2026 real estate market suggests a continued, measured pace of activity with price support driven by persistent supply tightness. The January data show a market that remains sensitive to inventory levels, with condo supply in particular contributing to price dynamics in specific segments. A key theme for the coming months is whether the stabilization of interest rates, as indicated by Bank of Canada communications, will translate into renewed buyer confidence and more robust transaction velocity. The data indicate that buyers and sellers will need to account for a dynamic mix of factors—inventory availability, property type, and geographic variation—when planning transactions. The official Chan­ge and outlook notes from APCIQ and the Bank of Canada context provide a framework for forecasting how the CMA could evolve into spring and early summer 2026. (apciq.ca)

Next Steps for Buyers and Sellers

• For buyers: Prioritize property types with demonstrated demand resilience, particularly plexes, and secure financing early to mitigate potential rate volatility. Given the elevated median prices and ongoing inventory constraints, buyers should prepare a clear budget, account for closing costs, and be ready to move quickly when a suitable property emerges. The data from January 2026 suggest that buyers may see more favorable terms in segments where supply growth occurs, but overall affordability remains a central constraint. (apciq.ca)
• For sellers: Price positioning remains crucial. With rising median prices across property types and a relatively short time-to-sell in several segments, carefully calibrated asking prices aligned with current market comparables can help maximize sales outcomes. Expect competition in condo segments where supply has expanded, but be mindful of location-specific dynamics. The January 2026 data underscore the importance of staging, timing, and collaboration with experienced local brokers to optimize exposure and negotiation leverage. (apciq.ca)
• For investors: The regional variation in sales and the ongoing strength of plex prices suggest selective opportunities in multi-unit assets where cash flow and cap rates may be more favorable despite a slower overall market. Conduct a granular, neighborhood-level analysis, especially in submarkets showing relative stability or growth, and monitor condo supply trends to gauge price resilience in rental cohorts. The Montreal CMA January 2026 numbers provide a data-driven basis for short- to medium-term investment planning. (apciq.ca)
• For policymakers and industry observers: The January 2026 results highlight the continued gap between demand and supply in the CMA, reinforcing the need for policies that support new housing stock while preserving affordability. Regular updates from APCIQ and Centris will be essential to track progress and refine policy levers over time. (apciq.ca)

Closing

The Montreal CMA January 2026 real estate market presents a clear narrative: sales are softer than a year earlier, yet prices hold firm or rise across key segments, driven by tight supply and ongoing affordability pressures. For readers of the Montréal Times, this data-based perspective offers a practical lens on what to expect in the near term and how to adapt strategies for buyers, sellers, investors, and policymakers in a market that remains highly local and increasingly data-driven. As the CMA moves into spring, stakeholders should stay tuned to APCIQ’s Centris releases and related market analyses to refine expectations, timelines, and decision points. The January 2026 snapshot is not simply a monthly number; it’s a signal of the CMA’s evolving balance between scarcity, demand, and price formation that will shape the region’s housing narrative through 2026 and beyond. Readers are encouraged to follow ongoing APCIQ briefings and Centris data for the latest year-over-year and month-over-month comparisons, as well as to consult local real estate professionals for neighborhood-level guidance. (apciq.ca)

Photo by Michael Beener on Unsplash